Global Packaged Food Market is expected to reach $4.89 trillion by 2027 growing at a CAGR 6.5% during 2018 to 2027
Some of the key factors propelling the market growth are increasing number of quick service restaurants, rising number of working women, and rapid urbanization. However, stringent regulation with respect to food packaging is the restraining factor for the growth of the market.
Packaged food is defined as the food items enclosed in packages which provides protection, tampering resistance, and special needs. Most of the foods come as ready to eat products which are more convenient to consume.
Some of the key players in Packaged Food Market include Kraft Foods Group Inc, Nestle S.A, General Mills, Tyson Foods, ConAgra Foods Inc, Maple Leaf Foods Inc, JBS S.A, Kelloggs, Smithfield Foods Inc, and Hormel Foods Corporation.
Read the full article here: https://www.marketwatch.com/press-release/global-packaged-food-market-is-expected-to-reach-489-trillion-by-2027-growing-at-a-cagr-65-during-2018-to-2027-2020-04-18?tesla=y